Show I FINANCIAL and COMMERCIAL CIA BY RY THOMAS AS C C. SHOTWELL New ew York Fob 24 Cheap 21 Cheap 1 Jon money mode made itself eIt in Wail al street today staying Isel tho the decline o of tho the market and forcing a 0 material rally luly A Aco co feeling or of distinct cheerfulness bc began an to pre prevail pre ni late in tho timo da day As A the cutting of ot prices by the steel tru trust t began to bo bu understood better beter by the tho public a n m more re hopeful low of ot the tho situation was vas a taken The Tho idea Mea that this cut was vas S Stor for tor tho purpose of ot Intimidating Congress Con Con- gress ress Is not entertained in the DOSI bosC quarters of or tho the banking world worl It I was an Industrial crisis that had to bo be mot met The steel trust had been taking care caro of or the Independents at the nHo of oC its Is own cu customers and stockholders It has now ceased to tobe tobo tobo bo be a paternal I institution Its next move will Il bo to reduce tho the wages or ot otIs orits its Is army ormy of This reduction will wil be accepted gracefully About SO 80 per par cent pf st those employee aro are nonunion nonunion non I union men inca and a n very largo large proportion proportion tion ton have taken stock of or tho the company company 1 under tho the profit sharing plan Any ny Joining a 0 strike n against tho th I company compan will wi forfeit all aU rights un under cr this plan I Reduction of or wages ares haa haR not bo ben n officially announced by the tho trust ano anc perhaps it I has hRs not even been officially y agreed od upon It I is considered a a no noces- noces s- s sary part of or the tho program Railroads are aching to cut wagon wages but art ae afraid to do BO so lest tho the public demand that they thoy cease paying dividends out of bond issues Issue A vcr very strong party In Wall Vall Val street favors an increase ot at rates by tho the railroads Tho Thu whole question hinges upon tho the volume ot of stock the tho they have havo issued and whether this really rely represents intrinsic value If the tho public could bo convinced that the stock ought to exist there thero would bo be no trouble about getting an nn of rates Now that that tho the first excitement of or Collapse Is over o It Is la certain that tho the insiders Insides wore tho the most surprised of ot all ol The Tho ho heaviest soiling in In Steel common common cornmon com corn mon was for tho account of or n a n pool controlled b by Insiders and managed by tho the First National Bank Danle Securities company This stock stoel had hal b boon been en ac uc cumulated from 2 22 up and It i was the tho intention to hold it for par Dar Tho financial district was full ruB to today ay of ot reports of increasing business Clothing merchants steel makers ana amo members member of ot all al kinds sal said thoy thor hall hal numerous inquiries from rein Jobbers It seems that the tho real really big people have havo o In I been getting cut prices for tor somo sorno months Tho The prices now current are uro not materially different from figures insiders have havo been able ablo to obtain and tho the Important feature seems to bo that labor alono had not boon been tic liquidated Tariff reform is dIsturb disturbing U ng many persons but Lut it is discounted Bankers aro are watching the tho crop out look with wih concern concern It I Is a n well wel known fact that with an abundance of ot rain in tho the winter tho crops are arc practically assured Rains Hans were light In tho the earlier part of or tIme tho session earler se but there is plenty of water throughout tho the en en- en tire tiro tre west and especially in California Reduction of or interest rates by tho trust companies has sent considerable te money to Wall VaU street for tor investment It I is also reported that devo depositors lors are taking money from savings banks anks and putting it into stocks stocke Metal etal shares were weak because of ot a n reduction of or one fourth of ot a cent a pound in copp copper r metal and ot of a cut In the price of ot lead pipe by tho the National Lead Lea company Smelters which atonal controls National Lead was os broken brokon two points on this announcement announcement As s tho the lead trust controls 90 per cent of or tho the output output out out- put in America America It 1 Is impossible to have havo a serious war In that direction New ew low prices for tor tho to year wore established upon the time curb market to today to- to day in the copper shares but in th tho tha late lato trading a a sharp recover recovery restored most of ot tho the losses and closed the entire market at about tho the best figures of or the time da day Curb mining stocks arc are suffering suf- suf fering from the tho accumulation of ot copper metal metal It I Is I certain that remarkably good good cheer prevails about the tue Harriman of of- ices The Tho fact tact that tho the now new bond bon Issue of or Southern Pacific can bo be o converted converted converted con con- into common stock at 1 5 does not worry the Harriman folo followers who ho hosny say this will bo be quickly absorbed when whon tho the time comes comos for tho time movement that tha t was promised to King KIng bl Edward of ot England Englan and President Diaz of ot Mexico In tho the St Street et Number of Or shares sold to today a 1 1206 O against a year yeM n ago o. o Par value of bonds sol sold today against a a year ngo ago Pig 1 lead was reduced 10 points to four tour cents a a. a pound today b by the tho American Ameri can Smelting and Refining company compan Janle of ot Quotations received over private wire wiro of or James A. A Pollock Co bankers and brokers 6 West Second South street I IL J I L. L I Sales Am C. C 47 44 47 41 I Am Smelting 8 82 77 7 82 I Am Locomotive 60 50 49 9 50 2000 m. Am Su Sugar ar 1 12 2600 ma Amal Copper 70 68 70 O Anaconda Cop 41 40 AtchIson 98 1014 B. B and O. O lQ Brooklyn B. B n T. T Canadian Cites and Ohio eu 2560 C. C L and St St. Sl P. P 1 liI HH H 1432 1600 Cola Colo F. F and I. I 31 1 29 31 Con Gas Ga 1 5 10 1 31 4 D. D and R. R G. G I 42 b Erie 26 62 1 il Great Northern 1391 1361 Illinois Central 1391 Lou and Nash 18 1281 1 Missouri Pacific 6 65 6 67 61 L K K ammI n T. T 38 8 do preferred N. N Y 1 Central 1 3 1 1190 O l N. N N Y V. O. O an and W. W 44 4 42 H 44 4 O Nor and West Yest 87 37 84 8 2 87 National Lead 74 4 7 72 7 72 Northern Pacific 13 A 1341 18 1261 1200 Peoples People's Gas 11 1111 10 1101 11 1900 Reading 19 1222 19 nock Island Oi do preferred 57 O 60 1900 Rep I. I and S. S 19 17 19 Southern Souther Pacific 1162 1142 EtO Union Pacific 1758 17 U. U S. S Steel H 41 44 2 do preferred 44 lOB 1091 lOa 4 p Utah Copper 42 40 1 1100 Tenn Copper 38 S 36 C n Newhouse 4 1 i H H III 1000 Total 0 tl sales Money closed 2 cent vcr per asked |